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Financial services

You will find listed here all articles related to Pre-Budget Report 2009 - Financial services.

The Code of Practice on Taxation for Banks

HMRC has confirmed in the pre-budget report that the Code of Practice on Taxation for Banks will be introduced.

Islamic Finance

The Government is demonstrating their continued bid to be the gatweway for Islamic fiance by continuing to iron out remaining uncertainties in the tax treatment of retail and instututional shariah compliant financial products.

Tax avoidance – HMRC expanding their intelligence gathering

The Government has published a consultation document with various proposals to widen and strengthen the disclosure of tax avoidance schemes (DoTAS) regime.

Bank Bonus

The Government has targeted bonuses in the banking sector and the perceived contribution bonuses have on risk taking. In his speech, the Chancellor also highlighted the need for the banking sector to recapitalise balance sheets in priority to paying out bonuses.

Life Insurance: Apportionment of income and gains

Draft legislation has been published aiming to prevent with-profits life insurance companies with non-profit business from manipulating their mix of business to permanently shelter profits from tax.

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